NVIDIA's Blowout Quarter: 'Machine Learning Is Like A Quicksand'

NVIDIA Corporation (NASDAQ: NVDA) delivered a massive earnings beat, with strength across its key growth businesses. “Machine Learning is like a quicksand, once a company decides to embark on the Intelligent Apps…there is no turning back,” Global Equities Research’s Trip Chowdhry said in a report. Chowdhry maintained an Overweight rating on Nvidia, with a 12-18 month price target of $85. The company reported its Q3 revenue at $2 billion, representing 54 percent year-over-year growth, beating the consensus estimate of $1.69 billion. EPS came in at $0.94, significantly ahead of the consensus expectation of $0.57. Nvidia also raised its revenue guidance to $2.1 billion. GPU Prospects Datacenter business revenues surged $193 percent to $240 million. This supports Chowdhry’s commented on October 29 related to companies like Apple Inc. (NASDAQ: AAPL), Facebook…